One of the largest commercial real estate transactions in Oklahoma City history occurred in on Tuesday, Jan. 7, 2020 when the Boeing Oklahoma City (OKC) campus was sold for $124,735,000 to OKC Aerospace 1, LLC.
The transaction comprises the entire Boeing OKC campus consisting of three office buildings. The property is located directly west of Tinker Air Force Base and 10 miles southeast of downtown Oklahoma City’s Central Business District.
Richard Tanenbaum, CEO of Gardner Tanenbaum Holdings (GTH) announced the sale. “GTH has developed more than one million square feet of aerospace real estate in Oklahoma,” said Tanenbaum. “I continue to anticipate a bright horizon for the Oklahoma aerospace industry. Substantial investments from the west coast, such as this transaction, show that the nation is taking notice of the aerospace industry’s dynamic growth in our state.”
After purchasing the 33.25 acres, Tanenbaum invested in developing three buildings specifically for Boeing in 2007, 2011 and 2012. The buildings currently accommodate more than 3,155 Boeing employees and contractors who work with Tinker Air Force Base personnel performing support and modernization programs for U.S. defense aircraft.
“This transaction shows the importance of Tinker, Boeing and the continued diversity of the economy in Oklahoma City,” said senior vice president of Newmark Grubb Levy Strange Beffort, Brett Price. “The Boeing OKC campus is the fastest growing Boeing site in the United States throughout the past five years. With the $14.3 billion contract awarded by The Department of Defense for Boeing to service US Air Force aircraft and the first of 14 maintenance hangars for Boeing’s KC-46 Pegasus nearing completion, Boeing’s Oklahoma City workforce will continue to rise.”
Mark Beffort and Brett Price, as part of the Newmark Grubb Levy Strange Beffort brokerage team, represented the buyer and seller for this historic transaction. The OKC Boeing campus is located at 6001 S. Air Depot Road in Oklahoma City.